Apple released quarterly results, iPhone sales down first time ever

Apple has released the first quarterly earnings of 2016. As expected, the results weren't as impressive as quarters in recent history. The most significant drop was witnessed in iPhone sales.

The first time in years Apple had to tell shareholders that profits have declined compared to the corresponding quarter last year. The drop was orchestrated by a first in a history decline in iPhone sales.

Apple sold 16 percents less iPhones than year ago, amounting to 51.2 million phones. Also declining were iPad and Mac sales, just over 10 million and 4 million units respectively.

Even sales in China, which has been a big boomer for Apple for recent years, declined a hefty 26 percent.

Apple predicts this trend to continue in the second quarter as well. We might have to wait for iPhone 7 for more positive sales figures from Apple.